An easy to manage home loan package.

The Works Package variable rate (P&I) home loan For owner occupied P&I home loans
6.34%p.a. Variable interest rate
6.78%p.a. Comparison rate*

Features & benefits.

100% Offset Account

It comes with a 100% offset account to make your home loan repayments^ while reducing the interest you pay on your home loan.

Redraw facility

Enjoy the flexibility of making extra payments and you can redraw your funds when you need them.

Credit Card

Pay no annual credit card fee on our no bull low rate credit card provided you satisfy The Works Package conditions.

Split Loan Option

Slice and dice your home loan with fixed and variable options. By combining the two, you can enjoy the security of a fixed interest rate and the flexibility of a variable.

Rates & fees.

The Works Package Owner Occupied

Loan Type Interest Rate Comparison Rate*
Principal & Interest
6.34% p.a. 6.78% p.a.
Variable 1 year
Interest Only
6.84% p.a. 7.27% p.a.

The Works Package Residential Investment

Loan Type Interest Rate Comparison Rate*
Principal & Interest
6.59% p.a. 7.03% p.a.
Variable 1-5 year
Interest Only
6.84% p.a. 7.27% p.a.

Interest & Fees

Interest is calculated daily on the outstanding balance, and charged monthly in arrears on the last day of each month. Refer to our rates and fees for more information.

Fees applicable to this product include:

  • Package fee: $395 annual fee for up to five loans
  • Application fee: Waived, usually $600
  • Valuation fee: At cost (minimum $149) payable at funding for costs incurred in obtaining a valuation
  • Legal fees: at cost (minimum $440) payable
  • Other fees may apply

Important documents:

To reduce or cancel your credit limit, click here.

It’s easy to apply online.

Here’s what you’ll need to apply online

  • Be at least 18 years of age or older
  • Be an Australian citizen, permanent resident, or have a valid visa
  • Receive a regular income
  • Have your membership number if you already bank with us

What you’ll need.

  • An email address and contact number
  • Member number (If you’re already a customer)
  • Australian driver’s licence, Medicare or passport details
  • Employment and income details
  • Details of your assets, expenses and liabilities

Prefer to split your loan? We’ve got you covered.

If you like the certainty of fixed repayments but also want the flexibility that a variable product provides, then chat to us about splitting your home loan. You decide what’s right for you.

View The Works Package Fixed home loan

We're here for you.

Sometimes you just need to reach out to find what's the best fit for you. No worries! We're here to support you with whatever you need.

Our opening hours

Our contact centre is open Monday-Friday 9am-5pm (AEDT)

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Ways to bank

Looking for ways you can bank with the Illawarra Credit Union?

Ways to bank

Are you a First Home Buyer?

With as little as 5% deposit, eligible first home buyers have the opportunity to purchase a property through the First Home Guarantee (FHBG).

Find out more

Important notes

*Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

^Home loan repayments must be direct debited from an Illawarra Credit Union transaction account. Annual fee payable yearly.

Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Fees and Charges (Grandfathered Fees & Transactions ).

For our complete package conditions review The Works Package Conditions of Use.

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Already a customer?

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New customer?

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